New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 15, 2014
16:02 EDTESSEssex Property Trust acquires two apartment communities for $208.8M
Essex Property Trust announced the company has purchased two apartment communities for purchase prices totaling $208.8M. Apex Apartments, a 366 unit community located in Milpitas, CA, was purchased for $150M. The property was completed and fully stabilized in 2014. Amenities include a saltwater pool and spa, a fitness center, an outdoor entertainment area with multiple fire pits and BBQs, a movie theater, a Wi-Fi lounge and billiards room, and a demonstration kitchen. Apex is located about one mile from high paying jobs in North San Jose and is near a VTA Rail Station and the Milpitas BART station that is under construction. The property is unencumbered. Avalon Bellevue Park Apartments, a 220 unit community located in Bellevue, WA, was acquired for $58.8M. The property was constructed in 1994 and is located in downtown Bellevue, near employers, shopping, dining, and entertainment options. The company has assumed an existing $21.5M loan with an interest rate of 5.5%. The loan matures in June 2019.
News For ESS From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 30, 2014
16:05 EDTESSEssex Property Trust increases FY14 core FFO guidance to $8.43-$8.52
Subscribe for More Information
16:04 EDTESSEssex Property Trust reports Q3 FFO $2.08, consensus $1.91
The company increased same-property gross revenues and net operating income by 7.4% and 9.4%, respectively.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use